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Aston Lawyer, Solicitor

Category: Law

Satisfied Customers: 10734

Experience: Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law

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what are the legal implications - if any - of a sole ownership

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what are the legal implications - if any - of a sole ownership with a joint mortgage.my ex partner and i went through a transfer of equity/ownership, leaving me as the sole owner [i.e. my name only on the land registry]... but it transpires that the mortgage lender failed to update the agreed new mortgage property [i.e. mortgage into my name only]. the joint mortgage has been left running, with her name on the joint mortgage statement.

yes i applied to the mortgage lender at the time. and agreed a new product [single mortgage in my name only]. all the relevant paperwork was signed [to my knowledge]. the lender is now saying they didn't receive the paperwork from my solicitor [even though the solicitor has provided me with copies of the documentation]. and the solicitor is saying that they didn't receive faxed reminders that the lender sent at the time to the solicitor for this paperwork.

the end result was that although the details were changed at the land registry [to single ownership]... the mortgage remained unchanged [as a joint mortgage in two names].

At the end of the day, as long as the legal ownership is in your sole name, you have nothing to worry about as regards ***** ***** partner trying to make a claim against the property.

The only person who may be affected by this mistake is your ex partner- as her name is ***** ***** the Mortgage, she is strictly speaking still liable to pay the Mortgage and the Lender could in theory chase her for any arrears if you don't pay them. Likewise, if any arrears build up, the Lender is likely to register the fact against her credit history as well as yours.

yes the mortgage product has now come to an end, which was how i discovered that the mistakes have been made. there are no arrears, and she has another mortgage. so no affect on her credit rating, and no need for anyone to chase her for arrears. another reason for asking the question is to establish whether the lender has any liability for these mistakes... or are they just lucky that the old joint mortgage and the new single mortgage both ended at the same time... and both carried the same interest rate? i wonder what would have happened if the new 'single person' mortgage had been a higher interest rate - would they have been asking me to pay the difference in payments over three years?

finally, are you saying that there are no grounds to take my complaint against their service any further?

I'm glad the issue has been resolved. It does sound to me that the Lender was at fault, but as no loss was incurred by you or your ex partner, you have to see it as a "mistake" and no more. As your ex partner has been able to move on and get another mortgage, the Lender has no liability to her and they are just lucky that the old and new mortgage product finished at the same time.

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